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SP500: high level narrow range finishing

2022-08-12
1318
Fundamental analysis:

The S & P 500 index closed down 2.54 points, or 0.06%, at 4207.70 on Thursday, August 11; The PPI data of the United States dropped by 0.5% compared with the previous month, and the number of new jobless claims in the United States was also lower than expected, indicating that the economic health was good.


S & P SP500 - 4-hour K-line diagram shows:



Technical analysis:


According to the 4-hour chart, the high level of the bulls is surging, the short-term bullish sentiment continues, the MACD index is in the high level of the bulls, and the RSI index remains weak in the bulls;


Long and short turning point: 4198


Pressing position: 4234, 4254


Support position: 4178, 4156


Trading strategy: bullish above 4198, targets 4234 and 4254


Alternative strategy: bearish below 4198, targets 4178 and 4156

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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